by Sunday | Oct 17 | Insurance WAEC
Musa lent Obinna the sum of N2,000,000 in February 2015 which he promised to pay back at the end of the year. Musa decided to effect a life policy on Obinna for a sum of N20,000 A. the loan B. death C. bad debt D. disability Correct Answer: Option B B....
by Sunday | Oct 17 | Insurance WAEC
Musa lent Obinna the sum of N2,000,000 in February 2015 which he promised to pay back at the end of the year. Musa decided to effect a life policy on Obinna for a sum of N20,000 A. Obinna’s life B. the N2,000,000 loan C. Musa’s life D. the sum...
by Sunday | Oct 17 | Insurance WAEC
A. private motor B. commercial vehicle C. motor trade D. general cartage Correct Answer: Option B B. commercial vehicle Explanation A commercial vehicle is any type of motor vehicle used for transporting goods or transporting paying...
by Sunday | Oct 17 | Insurance WAEC
A. assault B. trespass C. nuisance D. negligence Correct Answer: Option D D. negligence Explanation Professional Indemnity Insurance (PII) is a form of liability insurance that helps protect professional advisers, service-providing individuals and companies from...
by Sunday | Oct 17 | Insurance WAEC
A. marital status B. place of birth C. date of birth D. social status Correct Answer: Option C C. date of birth Explanation An endowment assurance policy is a life insurance contract that is designed to pay a lump sum after some specified period of time on death....
by Sunday | Oct 17 | Insurance WAEC
A. prompt payment of claims B. adequate reinsurance treaty C. allowance for ex-gratia payment D. settlement of investigated claims Correct Answer: Option A A. prompt payment of claims Explanation The “Prompt Payment of Insurance Claims” imposes certain deadlines on...